NEW YORK--(BUSINESS WIRE)--The Credit Junction, a technology-enabled online lending platform focused on providing working capital and supply chain financing solutions to small and mid-size businesses (SMBs), and the Tucson Hispanic Chamber, the largest Latino business organization in Arizona that advocates for and provides services to help grow their members’ businesses in its bilingual and bicultural region of southern Arizona, announced today that it has partnered on a program to provide up to $10 million in loans to small businesses in the region.
This announcement follows headlines that access to capital remains an overwhelming challenge for small business owners across the United States. Traditional financial institutions continue to be affected by increased regulations and oversight, resulting in a decreased ability to deliver credit and capital to a key segment of our economy. The Credit Junction’s fast, flexible and efficient access to capital provides an alternative to small business owners.
Lea Marquez Peterson, President and CEO of the Tucson Hispanic Chamber, said “Our chamber’s partnership with The Credit Junction will bring access to a capital source for businesses who have not been able to seek traditional sources. The economic recession was hard on our nation’s small businesses and we value the opportunity and commitment by The Credit Junction to provide capital to grow our businesses and stimulate our local economy.”
The resurgence in manufacturing and trade has made Arizona critical to the supply chain of dozens of large multinationals corporations. The Credit Junction and the Tucson Hispanic Chamber will work together to help those small businesses in search of working capital and supply chain financing to access the capital they need to increase inventory, drive production and mitigate cash flow issues.
Sergio Rodriguera Jr., Chief Strategy Officer at The Credit Junction, said, “We are thrilled to partner with Lea and her team at the Tucson Hispanic Chamber in what we consider to be a landmark and revolutionary program. As traditional sources of financing available to the small business market continue to dry up, this partnership will drive SMB growth and expand new markets leading to job creation in Arizona.”
About The Credit Junction
The Credit Junction is a technology-enabled, online lending platform focused on providing working capital and supply chain financing solutions to small and mid-size businesses. The company employs an asset-based lending credit evaluation model, and by doing so, can now offer businesses up to $2M in capital availability. By coupling technology and data mapping, with traditional asset-based lending metrics, The Credit Junction can better assess the health of a small business, as well as give those businesses a more transparent and user-friendly experience. The Credit Junction’s fast, flexible and efficient access to capital provides the resources small business owners need to grow their business, which ultimately supports job creation and local community development.
About Tucson Hispanic Chamber of Commerce
The mission of the Tucson Hispanic Chamber of Commerce is to advocate for and provide services to help grow our members' businesses in our bilingual and bicultural region. The chamber was honored as the National Hispanic Chamber of the Year in 2013 by the U.S Hispanic Chamber and has close to 1200 member businesses. The Tucson Hispanic Chamber operates affiliate chambers in Nogales, Sierra Vista and Douglas and assists businesses in reaching the fast growing Hispanic market and exploring cross border trade opportunities.